At some level are you just trading one income vehicle for another with the added bonus that you get the asset back (albeit there is a risk if the property gets trashed due to bad management) if the lender flakes out (and of course the hassle of calling the note).Hopefully some of the experienced private money lenders will jump in on this one, as it is a fantastic question.

I am a newbie and have taking the wendy patton courses and listened to the other gurus on this topic.

I think that ultimately, though, that would be a bit drastic for me (I hate to reverse course after all the time and energy invested in them).

Amount of funds to start will dictate to some degree the course of action and the plan implemented.

I took 90 hours of education over the course of 4 months as a college elective and now i'm taking appraiser, financial planning courses and plan to get my broker's license in 3 years due to the experience requirement in Arizona.If your state has higher real estate license requirements I recommend going that way as an agent should know the basics of all real estate aspects.As an agent you can also have the foundation to earn a Certified Commercial Investment Member certificate.

Of course, they make mistakes, they overlook things and they don't buy every property.

Of course this happens on wall street..but breaking into that world is much harder than partnering with someone on a property deal.

You're more likely to find a proud homeowner and you're maintenance costs will be non-existent unless of course you need to repair a furnace or roof depending on the case.Good luck!

I am just starting out as a real estate investor in Colorado, I've been focusing on the educating myself currently and it dawned on me that taking some real-estate courses and possibly getting my license may benefit me and if anything give me access to MLS postings and just more knowledge and understanding of real-estate.

Just stay the course and breathe.